Author: Rick D.

Proposed Stable Coin Built on Ethereum Receives $133 Million in Private Investments

A new cryptocurrency start-up has received $133 million in private investments. Intangible Labs will use the money to develop “basis”, a stable coin that will be built on the Ethereum blockchain. Basis: A Coin With a Variable Supply Intangible Labs is the brainchild of three Princeton University graduates. The company has already received investment from some rather exciting groups. Amongst them are Bain Capital Ventures, venture capital firm Andreessen Horowitz, Lightspeed Foundation Capital, and Google’s venture department GV. Individual contributors include billionaire Stan Druckenmiller, and former Federal Reserve Governor Kevin Warsh. The total raised so far is over $133...

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‘Big Bitcoin Heist’ Icelandic Thief Escapes Custody…Through a Window

The man allegedly behind February’s bitcoin mining rig robbery in Iceland has escaped custody. He is reported to have fled the country on a plane alongside the Prime Minister of the nation. Suspect Boarded a Plane to Sweden With Iceland’s PM Reports suggest that Sindri Thor Stefansson fled the minimum security facility early yesterday morning. He is then thought to have boarded a plane headed for Sweden using another person’s passport. The guards at Sogn open prison only announced the inmate as missing after the flight had already left. The BBC reports that Stefansson used a window to escape from...

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Security Firm Avast Demonstrates Cryptojacking Risks to Smartphones and IoT Devices

Global digital security firm Avast will be demonstrating the risks posed to smartphones and IoT devices by cryptojacking. The company has a stall at the RSA 2018 conference being held this week and will be performing live demonstrations mining Monero. Cryptomining Poses Risks to More Than Just Computer Uses The demonstration hopes to show people how malicious cryptocurrency mining can affect both their privacy and the performance of their infected devices. Ondrej Vlcek, the CTO, EVP and GM at Avast explained to Business Wire: “With the growing IoT landscape, PC users are no longer the sole victims of cryptomining malware....

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Verge (XVG) Penetrates the Adult Entertainment Industry With Pornhub Partnership

Privacy-based cryptocurrency Verge (XVG) has announced today that they’ve partnered with Pornhub. The move means that users can now pay for premium subscriptions using an anonymous cryptocurrency. Verge’s Price Takes a Pounding Following Pornhub Announcement The partnership has been teased for weeks now. Earlier in March, Verge were slated for their appeals to users to contribute $3 million to reveal the name of the company they’d be working with. The announcement of the Pornhub partnership was initially penned for late March, it was then postponed until April 16 and finally the 17th. However, earlier today, both Verge and Pornhub...

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India’s Crypto Crackdown Presents Opportunity for Peer-to-Peer Exchanges

The Reserve Bank of India’s recent ban on financial institutions transacting with companies using or offering cryptocurrency services will certainly have consequences for the nation. However, thanks to peer-to-peer exchanges like Paxful, one of these is unlikely to be cryptocurrency usage and adoption in general. Paxful Offers Users Exposure to Cryptocurrency Whilst Completely Bypassing the Banks On April 5, the Reserve Bank of India issued a statement which banned the the nation’s banks from dealing with cryptocurrency exchanges and other similar services. Thankfully for India’s crypto enthusiasts, it didn’t drop any hint of a pending government crackdown on digital currencies...

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Coinbase Acquires Earn.com In $100 Million Deal

Perhaps the best-known company in all of cryptocurrency has announced their first major acquisition. Coinbase has bought Earn.com, a startup that allows users to be compensated in digital currency for completing small tasks and responding to emails. Coinbase Deal as Much About New Staff as it is the Acquisition of Earn.com Recode reports that Coinbase has bought Earn.com for just over $100 million. Along with the acquisition, there are some additional perks for digital currency exchange too. The buyout will enable Coinbase to bring Balaji Srinivasan on board as their first Chief Technology Officer. According to a blog post...

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Massive German Stock Exchange to Launch Crypto Trading App

One of Germany’s largest stock exchanges has announced today that they will launch a cryptocurrency trading application later this year. Sowa Labs, a subsidiary of Börse Stuttgart, revealed that their application will offer commission-free trading for several of the largest digital currencies by market capitalisation. Prototype of New Crypto Trading App Demoed in Stuttgart The new application will be called Bison and, according to Börse Stuttgart, it will be available for users to download in September of this year. One of the most exciting features of the app from a user’s perspective is the cost. It will be free to...

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Australian Power Company to Reopen Coal Power Plant to Mine Bitcoin

An Australian power company have signed a contract with a cryptocurrency mining firm to provide them with cheap off-grid power. The IOT Group will be building a digital currency mining hub that’s actually inside a disused coal-fired power station in the Hunter Valley region. Off Grid Power Will Allow the IOT Group to Compete With Global Miners Typically, cryptocurrency mining operations happen in places where it’s cold and power is cheap. Locations like Siberia, Iceland, and Canada are often touted as the planet’s best. On paper, it seems as if setting up a mining facility in Australia would be...

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Nasdaq Finally Delists The Ice Tea-Turned “Blockchain” Company

Five months after its hilarious re-brand and subsequent soaring share price, the Nasdaq stock exchange have decided to delist Long Blockchain. Late last year, Long Island Iced Tea Corp announced that they’d be focusing on the technology behind Bitcoin. There appears to have been little progress in that regard and a tumbling share price, hence this week’s removal from the large American exchange. Long Blockchain Summed Up the Mood of Late 2017 Perfectly Throughout the second half of 2017, everything the word blockchain touched seemed to turn to gold. Investors poured money into just about anything that was “decentralised”....

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Vietnam Responds to Crypto Scam With Calls For a Harder Line on Digital Currencies

Earlier today, officials in Vietnam called for greater scrutiny against those investing or making transactions using cryptocurrencies. Statements from the Prime Minister follow what could be the largest case of fraud involving digital currencies in the nation. Despite Illegality, Vietnamese Investors Fall Victim to Massive ICO Scams The Prime Minister of Vietnam addressed various government and financial bodies in a directive on Wednesday in light of recent massive ICO scams. Nguyen Xuan Phuc instructed the State Bank of Vietnam, the Ministry of Public Securities amongst other institutions to ensure greater “management of activities related to Bitcoin and other cryptocurrency”. According...

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